from business to politics to rock and roll. i am liz claman. live from cleveland, ohio. this is "countdown to the closing bell." a day where we are seeing a pretty significant rally. one day before president barack obama comes to ohio again. both he and the governor have been here many many times. it is a key battleground state. fox business is choosing great american cities like cleveland and our open for business series to talk about no matter what the economic atmosphere, companies are making it happen. cleveland was a stop in my career. back in the early 90s. i covered everything. it was a big story, marsh fires. i was at hurricane andrew. i know, the hair, please.

and that outfit. category five hurricane. i got to cover all the biggest stories. i knew cleveland was a great city for business. keep in mind, ohio, a key battleground state. you saw how many times ohio was mentioned last night. already, we have spoken to the brand new billionaire owner of the cleveland brown's. he is from knoxville, tennessee. telling me this is it. he will make the browns a winning team. mark shapiro, the president of the cleveland indians. his team is facing, yes i know, major league. it goes back many centuries. many decades. this is one of the original american league teams. i asked him who will get the manager spot. of course, there is a position

open. we are live at the rock 'n roll hall of fame. it attracts more than 50,000 visitors a year. a total of 9 million people have walked through the doors here. we are sitting down with terry stuart. a huge money driver. lots of money comes into this state because of the rock 'n roll hall of fame. i took this from my hotel room this morning. it is in the shape of a guitar. rock 'n roll, that term, was created right here in cleveland. let's get you up to date. the markets, both the dow and s&p holding tightly onto gains all day. we have healthcare taking off as well. ten of the 52 healthcare related stocks in the s&p 500 got not only are doing well, they are

hitting her and new highs today. initial claims rising. jobless claims rising to 367,000 last week. that is a number you want to see going down. talk about a comeback. after posting its biggest one-day percentage decline since 2011. oil. following the release of the minutes from the most recent federal reserve meeting. let's go to the inside of the scoop. let's get right to the floor show. we are talking to the traders at the new york stock exchange, cme and the imax. you pick it apart from the sectors and from all that is happening. what is the most important aspect of today's move? >> if you look at hr for the

day, we opened high and we stayed high. what we have seen over the last couple sessions is the market seems like it wants to rally in and it loses steam toward the end of the day. if we continue to maintain these levels and we are trading at the highs right now, it will show a significant move in real momentum into the market that we are showing today. liz: tell me about the volume. this is always an important question. is there a conviction behind the rally today? >> i would not say there is conviction volume in the rally today. it is the right type of clients that are getting into the market now and are continuing to build positions they have already. liz: ira, at the cme, i am less interested in a $13 move in gold than a smaller and oil. we are starting to see some real bullish activity. why the change? >> syria going after turkeys borders.

that immediately got iran, always a problem, of course, getting their military goofed up towards the border as well. now you have that israeli conflict, turkey going at it, that was enough. a one-person debate last night. i think president obama had a stand-in. i am convinced that was not him. he must have had the flu. that romney drove these other market. he is pro-business. he really invigorated the next shot at winning some people over. especially in ohio. liz: the question is was that really president obama and was not really that romney last night? [laughter] john, you are looking at that activity over at the imax. we just talked about crude oil. gasoline is something we always watch for the consumer. >> if you look at what wti has

done in the last few weeks, it has really underperformed. ethylene prices have been rather strong. when we look at today, some of the supply concerns in texas and new jersey, it is not a surprise it is up over 5%. if you look at wti, you have the s&p on multiyear highs. you have crude oil selling down to the lows. at least in the last couple months, if you ask bernanke a few weeks ago, this would be the result, you would have to be fairly happy. you had the s&p beginning to rally as much of wall street pretty much discounted romney's victory. romney victory is very polish for wall street. up until last night, it was not

a factor in overall risk market. liz: isn't it interesting, though, the market has done better under democratic presidents. you just don't know with these things. gentlemen, thank you so much for joining us. the dow jones industrials up almost 90 points. a big rally today. we are watching it. dow jones industrials 30,585. closing. [opening bell ringing] soon. about 53 minutes away. i want to tell you a quick little thing here. these go in the middle, yes, of 45 records. the eight and the b side. randy newman, donna summers, all have been to their names. they were all announced today as the newest nominees of the rock 'n roll hall of fame.

we will speak with terry stuart. first, we have some trivia for you. which rock star was inducted into the rock hall of fame the greatest number of times for playing with different bands? for more than one band. jimmy page, paul mccartney or eric clapton. put on your trivia hats. coming up, i will tell you the answer. stay tuned. ♪

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♪ >> welcome back. we are taking a look at your top commodity movers. looking at rbob gasoline. reversing yesterday the big losses. crude almost completely erasing yesterdays losses. rbob up. crude oil prices also a big gainer. back above $90 a barrel.

crude prices in the range of 91-$92 a barrel. gold also shining. about three quarters of a percent. we got some comments from mario draghi. they are going to do something, another bond buying program of some sort. that eased concerns over in europe. also, by the way, we had a weaker u.s. dollar, stronger euro scenario on that. it was a big winning day for commodities. yesterday was a big loser. we opted a lot of yesterday's big losses on the day. gold certainly shining. hovering around 1800 out. now we will go out to jeff flock. he is on the far. jeff. >> we brought the cme out to the farm today. you know our old friend scott.

what better place to have you guys been out at the horn harvest. as we watch it here, it is better than we thought. >> it is. there is a surprise by how many fields can give us so many bushels an acre. forty or 50%. jeff: give me a prediction. we just heard this farmer say, tom, where are our prices going to be? >> next year, let's start with what is going on right now. 960 area. we had a 40. we are kind of in congestion right now with this price range. we will go a lot higher next year. jeff: one of the factors is the moisture in the soil. take a look. this court has gone down to get a lot of moisture out of the ground. if we do not get significant

moisture, we will have another major drought situation in another skyrocket and prices. this is what one horn called -- corncob looks like this year. i leave you, liz, with a picture of the harvest. you are on the road. we are on the road. there you go. liz: i will take it. thank you very much. i am over at the rock 'n roll hall of fame. do you know who this is? take a look. this is a young robert zimmerman at the piano. oh, i am sorry, he changed his name to bob dylan. we moved into the architect part of the hall of fame. the piano, guitars, what with these singer songwriters really be? come meet the ceo of the rock 'n roll hall of fame.

terry stewart. thank you so much for joining us. the rock 'n roll hall of fame is here in cleveland because the term was coined by this guy, alan freed, a dj. talk about that moment and why he coined that phrase. >> he was very egotistical. he had an insight about the music. he fell in love with it. he really wanted to sort of on it. he gradually took over that world. and that whole process he thought there was a bigger universe of people out there. he renamed it rebranded it. he knew what it meant. they told him not to use it. he used it anyway. [laughter] it took off like wildfire. liz: you learn something new every day. we will go over here.

i have to quickly pointed out. these are alan freed ashes. we do not have to get into the details of that. i would be way more interested in getting into these guitars. >> these are all gibson paul guitars. owned by very famous people. these guitars are all vintage guitars for the most part. they go for hundreds of thousands of dollars today. liz: could you imagine one with the song "blue sky." here is a piano. by the way, this is a business and tourist location. unbelievable.

people come to see stuff like this. >> this is the centerpiece of the million dollar quartet. all four of these superstars got together for the first time. elvis on the piano. johnny cash -- they played about two hours. they turned the tapes on and recorded it. it was sort of mythical. the music was released in the 80s. liz: that is the piano. as we look at all of this, talk about this as a tourism hub. >> a hundred million dollar impact. we have a half million people that come here. 95%, from outside the region. it is remarkable. liz: that is just incredible. i want people to see what is going on in here.

you know, they bring it up to modern day era. talking about architects. someone who could be recognized. he changed the face of how we listen to music. if you pan left, these are the older artifacts. something out of a museum or out of my mom's garage. the boomboxes and stereos run by batteries. >> big boomboxes. liz: how many of us were dying for the one with the double cassette? that evolution is something you have been able to capture through all of this. >> beauty is in the eye of the bow holder. we all have our favorite artifacts. i love, there is a moneybag, suitcase, downstairs. he did not trust banks. that put him ahead of the curve. [laughter] he carried it around with all this cash in it and put it under

the seat wherever he was. that is the one thing we left in the attic. liz: what about the beatles stuff? >> we have the largest beetle exhibit in the world. uniforms, jackets, instruments, original lyrics. it is remarkable. people will sit in front of that case four hours. liz: paul mccartney wrote "yesterday." >> voted often the best song ever. liz: we are here looking at the business climate of ohio in cleveland. cleveland is open for business. what do you think people need to know about the city? >> i think it has had a bad representative for a long time. liz: why? because of the river that caught fire? >> cleveland, first of all,

people do not realize we are on a body of water that looks like an ocean. we have island out on the lake. jimmy buffett bill is out there. you have the water. cultural arts. one of the biggest and most proud orchestras in the world. art museum. of course, the rock 'n roll hall of fame. a very small footprint which allows you to navigate the city, feel safe and do this in a very short period of time. and, it is less expensive. liz: you do a great job, terry. terry stewart who is the ceo. they call it the mistake on the lake. i call it best location in the nation. coming up, big businessmen joining us exclusively. the president of the cleveland indians. they had their last game last night. they had a great first half of the season. collapsed in the second half. what will they do next year but

back this is a team that has stuck by the city and vice versa. we have a fox exclusive coming up. ♪ ♪

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liz: welcome back. the rally hold. dow jones industrials up about 76 points. the nasdaq up 33% year over year. a huge rally for the nasdaq. the most hated rally of all times. the s&p 500 that are by nine. we are seeing sharp declines, though, and wireless companies.

sprint nextel is considering making a rival bid. they tell fox business no comment. the stock is down. at&t better by about 2%, or just, a 3%. verizon is up 2%. rising communications hitting a pretty significant high. did you guess the trivia question? which rockstar was inducted here into the rock 'n roll hall of fame in cleveland the greatest number of times for playing with different and? the answer -- eric clapton. he was inducted into the hall of fame for playing with many different bands. we have the announcements this

morning. deep purple, randy newman, rush, donna summers, what are you going to do. let's talk about the bad news bears. i am kidding. the cleveland indians. i am allowed to say that because i am a cleveland fan. they are already making plans for 2013. we talked business of baseball with the owner last night. how could you not be in india than having lived here? i know i am. we welcome the president of the cleveland indians. going on through 21st year. >> it is great to have you here. liz: you really deserve a medal.

[laughter] it is not easy. >> i feel fortunate. i am not from cleveland. it has been a great ride for me. a great place to be. liz: let's call it what it is, a really terrible last half of the season. disappointing. what happens now? >> we get better. we fight to get better. we have a managerial decision to make in the next couple of days. we have some great choices to choose from. we looked to build off of the positive things that happened this year. we are finding ways to keep moving forward. we have to put a whole season together and move forward. liz: -- >> we look at it this way, we have two very exciting choices.

i have worked with some and have a relationship, respect and trust. we think cleveland and the indians know our situation and are excited about the challenges. we feel the same way. we are in a good position. you have two good choices to interview and talk to. liz: let's talk about the business of baseball in cleveland. one of the four founding members of the american league. it would have been so easy because it has been a tough road to have left cleveland. why have the indians stayed and with a stay forever with cleveland? >> a historic passion is there. at times that passion comes through another wave. you cannot be a cleveland -- the team, brand, history, baseball is that one unique explorer.

we are a generation of fans. the amazing thing about it is while time goes on, the game is still relatively the same. the fabric in the uniforms is a little different. the game is still the same game that will be played here in just about an hour. in exciting thing for memory and generation of fans unite around. liz: i was here for opening day in 1994. to this day, it is a very forward thinking ballfield. now it is progressive. you have 16 year licensing deal. will that affect the price of the experience of coming to an indians game? >> progressive is a great partner to us. a crown business in the city of cleveland. so actively involved here. we are proud to partner with them. they are a great supporter of ours. liz: back in my day-- you go all

the way back. the pitcher who was fiercely loyal to cleveland and the indians. it is very important to look at that and say, you know, what is it about cleveland that keeps you here. >> i think it is that generational aspect. the fact it is a truly great place to raise a family. it has all the benefits of a big city. the culture you want to see. it has the ease of living in the schools that makes it great. liz: the browns have a new owner. you look at larry and paul. are they committed to spending and keeping the team competitive >> i think they have spent beyond revenues multiple times.

it creates a greater challenge for a market of our size. we are a small to midsized city. our revenues are reflective of the corporate face and population price. that creates challenges. ownership gets beat up a lot. that is money that needs to be spent. we have a young foundation.

he is also going to talk about what he thinks about the uk. they are on sticky ground as well. we will be back with a whole lot more from cleveland where we are open for business. let's hear it from inductee bruce springsteen. they are helping us out here today. ♪ follow the wings.

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nicole: i am nicole petallides live on the floor of the stock exchange. we're getting ready for the closing bell but before that we look at one sector, these are the coal stocks doing very well today. a couple things to note. we are looking at coal which is cost competitive with natural gas and power generation. that is one factor as well as the fact that last night we heard mitt romney talking about cold. i like cole, he said. saying more and more he would use cold. and it is to the upside. it is 5% to the group doing particularly well. this is also the administration is currently crushing the coal company. back to you in cleveland when you are doing an unbelievable

job. liz: hard not to. here in cleveland i don't mean to be a total emissary but it is a great business story. we're looking at something no one man can control which is spain on the brink. we could be hours away from spain throwing in the bailout cow land asking for a rescue package. joining me in a fox business exclusive is david riley, head of sovereign ratings. you have got to tell us what happens next? what happens to spain's rating which is a triple b minus which is not great if spain says we are ready for the bailout and european central bank says let's face it now? >> we think it would be a positive development of spain stocks did during over whether to request help or not and needs to request that helped if it is going to unlock the firepower of the european central bank in

terms of bond purchases by the ecb. we have said this before. if spain was to ask for that support that wouldn't trigger down rated speculative by fitch. if it helps to stabilize the financing situation for spain as a whole and helps stop the flight of capital we have been seeing in the case of spain that does give the government some time to restructure the banking sector which it needs to do and deliver the reforms to get the economy going again. for us it would actually relieved the near-term pressure on spain's rating, to request support. liz: you would not see it as the negative if spain says we can't take it anymore and we need the bailout? what would you see as negative if you started to see the banks falter? some spanish banks just past the stress test but i don't know how much value you put in.

you tell me. >> they identified there is a big capital shortfall in spanish banks and the numbers came up with in their worst case scenario was basically in line with our best case. we are somewhat more negative than those stress tests but we have taken some assurance in the market, it is within the 1 hundred billion hero on the low. spain already has agreed $100 billion loan from its e.u. partners to recapitalize its banks. so what would potentially push the rating down we have identified as our concern over the outlook of the economy as a whole. they need to bring the support and stop capital from flowing out of the country. that would stabilize necessary conditions for getting the economy back on its feet and stopping unemployment from continuing to rise. that is a tall order but we are

willing to give some time for spain to see if it can demonstrate that it can turn it around. liz: i am interested in the u.k. as well. they are not euros donation but if spain stops capital flight from the country we are seeing a lot of capital flight from france. is france next for a downgrade? who are you looking at that is vulnerable right now? >> we do have friends on the negative outlook. mixed news is coming out despite francois hollande's pre-election metric. he is committed to reducing the budget deficit to 3% next year and signing into law the fiscal compound which would prevent france balancing its budget over the medium term. the concern with france at this point is closing the budget gap by raising taxes and to address issues about competitiveness and getting more people to employment in france they have

to reduce taxes and labor taxes which are among our highest in the world and it would see how they are going to do that without public spending and that is something that has been reluctant to do. they have some time to turn that around. liz: lowering taxes improve the picture is what i am hearing you say. thank you for joining us. david riley of sovereign rating saying the triple the-credit rating for spain will remain the same even if they ask for a bailout plan. we are 16 minutes from the closing bell. walmart, target, bed bath and beyond. the want to get a read on their health? head to cleveland where real-estate investment trust td are which focuses on value oriented shopping malls coming up. we are talking to corp.'s ceo, daniel her when on whether the commercial real-estate is keeping up with the housing

recovery. he has 1 twenty million square feet of it. stay tuned. agree window.

liz: we are live at cleveland's rock-and-roll hall of fame and open for business. fox business focusing great american cities with business stories. you own stock in values force like wal-mart and target. want to know how they are doing?

look no further than read which focuses on value oriented shopping malls. dan hurwitz is the ceo of this publicly traded company. stock is up 39%. business must be good. >> business is good and retail sales are very good. the american consumer has made a clear choice. they want value:convenience and tenants that occupy shopping centers offer value and convenience. that is what the consumers looking for. liz: is the consumer healthier than your ago? >> i think the consumer's not only healthier but more optimistic. they feel better about where they are in their jobs and better about their wages and worse about the fact the we are in any election cycle still lots of people particularly in ohio telling you how bad things are. you can't watch tv without negative adds that that doesn't impact retail sales or how people feel about their families and things are positive.

liz: you have 1 twenty million square feet and 450 properties in the united states, brazil:-- which parts of the united states of looking stronger? >> our business is a local business. you can go into certain markets like phoenix where people criticize phoenix for years and years and talk about how the press it is and we have done well because we on the right properties sell our business is a local business. retail is a local business and it depends how you merchandize your center. you could be in some tough markets but if you have target and bed bath and beyond, wal-mart and kohl's you will do well. liz: there is a mall where a live in new jersey and bears the bed bath and beyond, barnes and noble, couldn't stay there. they had to back out. to awhile until a craft store opened. i want to know who is not signing in your world? j.c. penney or seres? >> we have had few tenants not

re-signed. that is related to the quality of the portfolio. we are having problems with renewing tenants where there is a low level of quality in your portfolio and they use leverage to say let me payless rent. liz: what about bed bath and beyond? >> big box power centers tenants are making money but not leaving. they are not leaving because nothing new is being built. no place else for them to go so the supply and demand in that wreck in favor -- metric in favor. liz: when somebody moves, are you having trouble filling that space? >> we are not. we have been fortunate because the tenants we do business with are the hottest trends in the country and they are looking to grow and having a hard time finding locations that satisfy their open divide because nothing new is being built. as soon as we have an opening or a vacancy we have a lot of

success going pretty quickly. liz: you are a connecticut guy you have been here 14 years. running the business from cleveland. everything to taking the and moving away? ohio is in a down and out state but coming back. unemployment rate is lower than the national average. >> no. this is our home. lead of cleveland. i of cleveland even though i am from connecticut. this is the town that is vastly underrated. unless you live in other cities in the united states and realize how terrific it is. liz: governor casey in the last hour said when the opinion of the world catches up with cleveland and the reputation catches up with what it really is we are still waiting. >> we are still waiting. there were no rush, we have incredible culture and incredible schools and incredible medical care and incredible recreational facilities, for rate housing and great quality of life and part of that is we are a hidden gem. liz: if you haven't heard of it

be the are is a hidden gem. in your portfolio is up 39% year over year. up 24% year to date as they pay off debt and move forward. good to see. are you and indians and browns and? how could you not be? no yankees. >> still love the giants. liz: you are allowed but got to the browns fan. dan hurwitz. closing bell ringing in 6 minutes. we are holding on to gains of 67 points. we have been up 90 for in insider's look at behind-the-scenes action in cleveland, as our crew has descended in northeast ohio follow me on twitter@liz claman. suspects -- right by brown stadium. more ahead. before copd...

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>> some people call it a romney bubble. let's go to nicole petallides. we are hearing different reports that this is a romney bump that people are not expecting a pro-business president with point last night there closer to getting one. mitt romney said something about hole last night i want to focus on what he said and get your stock reaction. >> i like cold. i want to make sure we continue to burn clean coal. connell: coal stocks doing pretty well today. nicole: so much to talk about

pertaining to the debate and move on wall street. you are right on the money and people in the coal industry feel it is getting crushed by policies. that is something else mitt romney said, and coal stocks jumping big time. dave: in health care, those health-care stocks that will benefit from obamacare not doing well. those health-care stocks that would benefit from a repeal of obamacare doing well. nicole: that is what we saw moving to the downside. dave: we talk about oil. for all the downside momentum way up on the upside over a 4%. energy stocks doing well. dave: nicole: we have a weak dollar. dave: let's do a contrarian